European Anti-corrosion Coatings Market size is projected to reach USD 4.5 billion by 2027, according to a latest forecast report by Graphical Research. The surge in infrastructure development for renewable energy, increasing construction activities, and rising need for the maintenance of old structures are some of the factors fueling the industry demand.
Several industries struggling with the corrosion of metal or concrete-based structures are acting as catalysts for the market expansion. Corrosion is a result of varied physical and chemical factors, such as surface contact with water, sunlight, and heat. Industries, including power generation, oil & gas, transportation, construction, chemical manufacturing, marine, and aerospace generate substantial demand for coatings with anti-corrosion properties. The increasing need to coat structures or equipment, such as ships, oil rigs, vessels, containers, manufacturing equipment, and power utilities to protect against corrosion is creating a positive outlook for the market growth.
On the other hand, the health crisis caused by the spread of COVID-19 disease has been a major disrupter to the industry supply chain. The outbreak had a significant impact on the demand and production of metal & metal-based components. This negatively impacted the consumption of anti-corrosion coatings and temporarily led to the decline in product demand. However, the revival of the construction industry and resuming economic activities are likely to help the industry to achieve its previous growth trend in the approaching years.
Browse detailed statistical insights from the report, “Europe Anti-corrosion Coatings Market By Method (Solvent-based, Powder, Water-based, Others), By Product (Acrylic, Epoxy, Polyurethane, Alkyd, Chlorinated Rubber, Zinc, Others), By End-user (Shipbuilding, Oil & Gas, Infrastructure, Energy, Industrial markets (Tanks, Pipes, etc), Transport, Others), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
Superior characteristics of the epoxy coatings, such as anti-chemical and anti-rust resistance are some of the factors driving the segment growth. Additionally, these coatings are exclusively used for metal surfaces by several industries, especially marine, oil & gas, transportation, etc. The efficacy of epoxy coatings against moisture, oxidation, industrial chemicals, and other environmental factors are some of the key growth enabling factors of the market.
Based on the method, water-based segment attracted large number of consumers and contributed a significant share to the European anti-corrosion coatings market. The product demand is supported by its environmental compliance, i.e., it contains low levels of VOC content. Moreover, strict government norms regulating the use of harmful compounds are further encouraging consumers to use water-based coatings.
Based on the end-use industry, the oil & gas sector acquired over 19% market share in 2020 and is anticipated to exceed 200 kilo tonnes by 2027.
Some of the key industry participants include BASF SE, Kansai Paint Co., Ltd., PPG Industries, Chugoku Marine Paints, Ltd., Nippon Paint Holdings Co., Ltd., Ashland Global Holdings Inc., Axalta Coating Systems, Hempel Group, Jotun Group, RPM International Inc., and Sokema Advanced Technology Painting Systems.
The European anti-corrosion coatings market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Europe Market, By Product
- Chlorinated Rubber
Europe Market, By Method
Europe Market, By End-user
- Oil & Gas
- Industrial markets (Tanks, Pipes, etc)
The above information has been provided for the following countries:
- Rest of Europe